3 ms·
I’m minoring in economics from a top 5 school. I understand the fundamentals of how the economy works. I respect the tools economics gives us for modeling our w
by thebradbain 8y ago
I’m minoring in economics from a top 5 school. I understand the fundamentals of how the economy works. I respect the tools economics gives us for modeling our world.
But economics is just that— a tool. We mustn’t follow it blindly, especially in the case the “optimal” configuration is one that leaves many more persons impoverished, homeless, and even dead who may have been able to been saved from such a fate.
Externalities, by their definition, are hard to quantify. And unfortunately, too often economists discount the pricelessness of human life.